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>> detroit is in bankruptcy. who will catch the retirees as their pension had hang in the balance? [♪ music ] >> so much is riding on this issue, and our community has a lot to say about it. >> yes, this is the battle for detroit's future. who are the victims? who are responsible? and most of our economy seems to be empathizing with jonathan. retireeretirees are in now automatically in danger of losing their homes and healthcare and may have to rely on food stamps. so, you the viewer at home, you are our community, and you are the third host of this show. throughout today's show tweet at us, and join the conversation. >> detroit may be at bankruptcy now but at its height it was an elite american city with booming business, bustling streets and adventurous nightlife along the whatever. detroits golden age was full of prosperity, promising a comfortable retirement for those who worked hard. but with the $18 billion debt that promise is in jeopardy. the pensions of 20,000 retirees are at risk as detroit no longer has the funds to meet its commitments. joining us is jim, one of the
jazeera.com. hi, i'm lisa fletcher. and you are in the studio. are detroiters making a come back? ♪ all about detroit. we are focusing on the real challenge tonight. >> the future, and who is doing to benefit. our community always has opinions and also activity is already happening in detroit. how, there's a group that says wake up man. determines have been in charge for 50 years. and ten there's j.p. that says to get detroit back on its feet, we have to give money back. let's try that out. our community and you are the third host of the show, and we mean it. we read recall your tweets and facebook messages. they drive the discussion. so tonight, use of the #and join the conversation. he means it. many ways to be a part of our community. don't forget facebook, like us, send your ideas for stories that you think we should be covering. detroit hustles harder that's what residents are saying as they flip the city's negative narrative of bankruptcy crime and pose closures. juxtapose against the standard story of ruin, businesses are investing big in downtown detroit. but it might
about that. the president was having a lot >> welcome back. we're talking about detroit's pension battle and whether or not it's possible to come back from this financial crisis. we're talking about $18 billion. is there a county in which a city is just beyond the reach of a recovery plan? >> in this case the debt service on those bonds, those pension liabilities, those unfunded retiree pension obligations are expected to eat up the budget in ten years. that's a level that you can't fix management and pay for. bankruptcy. more importantly is fix the major problems that this city services or that prevent the city from providing city services. >> detroit has an image problem, i don't think that's all, ibrahim said that detroit needs help from the streets to the lights and the government runedding it. 78,000 abandoned buildings, 40% of the street lights don't work. a third of the ambulances don't work and it has the highest murder rate in four years. you've been a resident for years. talk to us what detroit was and with all these statistics that seem so dour do you think detroit can reach t
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